The Chandes Momentum Oscillator Metatrader 4 indicator is an outstanding trading tool that is used to judge market momentum.
The indicator fits perfectly on all time frame charts and can be deployed on a wide-range of currency pairs.
The Chandes Momentum Oscillator indicator also delivers overbought and oversold conditions at the +50 and -50 signals levels respectively.
- The conditions for entering new positions are quite simple. Check to see if the red line of the Chandes Momentum Oscillator indicator is aligned above/below the 0.00 signal level for a buy/sell signal alert.
- The indicator can be subjected to modifications to suit individual trading preferences.
Feel free to explore the Chandes Momentum Oscillator Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Chandes Momentum Oscillator Forex Indicator Chart (USD/CHF M30 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Chandes Momentum Oscillator MT4 Indicator
Buy Signal: Go long when the red line of the Chandes Momentum Oscillator MT4 indicator breaks above the zero-signal level. Plus, the Ichimoku Kinko Hyo indicator prints sandy-brown cloud that is aligned somewhat below the candlesticks.
Sell Signal: Go short when the red line of the Chandes Momentum Oscillator indicator dips below the zero-horizontal level. Plus, the Ichimoku Kinko Hyo indicator prints thistle cloud that is positioned slightly above price bars.
Exit buy trade: Close all buy orders if while a bullish trend is running, the red line of the CMO indicator falls below the 0.00 signal line. Else, the Ichimoku Kinko Hyo indicator prints a thistle cloud on the activity chart.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the red line of the CMO indicator surges above the 0.00 signal line. Else, the Ichimoku Kinko Hyo indicator prints a sandy-brown cloud on the activity chart.
Tips: The Chandes Momentum Oscillator indicator is able to point out the market’s momentum in a precise fashion.
The indicator is also range-bounded from -100 to +100, and perfectly analyzes the current market condition.
Hence, it delivers reliable trading signals that traders can always count on.
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Last Bar Only, cmo range.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Momentum Oscillator
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.